Public Employees Retirement System of Ohio Increases Position in Public Service Enterprise Group Inc. (NYSE:PEG)

Public Employees Retirement System of Ohio lifted its holdings in Public Service Enterprise Group Inc. (NYSE:PEG) by 3.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 213,353 shares of the utilities provider’s stock after purchasing an additional 7,066 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Public Service Enterprise Group were worth $11,105,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PEG. Caxton Associates LP acquired a new position in shares of Public Service Enterprise Group in the fourth quarter valued at about $264,000. Candriam Luxembourg S.C.A. grew its stake in Public Service Enterprise Group by 50.8% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 55,187 shares of the utilities provider’s stock worth $2,872,000 after buying an additional 18,581 shares in the last quarter. Bessemer Group Inc. grew its stake in Public Service Enterprise Group by 12.1% during the fourth quarter. Bessemer Group Inc. now owns 2,627 shares of the utilities provider’s stock worth $137,000 after buying an additional 284 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in Public Service Enterprise Group by 7.1% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 91,468 shares of the utilities provider’s stock worth $4,761,000 after buying an additional 6,081 shares in the last quarter. Finally, Segall Bryant & Hamill LLC grew its stake in Public Service Enterprise Group by 51.9% during the fourth quarter. Segall Bryant & Hamill LLC now owns 81,154 shares of the utilities provider’s stock worth $4,224,000 after buying an additional 27,740 shares in the last quarter. 69.22% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have issued reports on PEG. Mizuho increased their price objective on shares of Public Service Enterprise Group from $54.00 to $61.50 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Wells Fargo & Co raised their price target on shares of Public Service Enterprise Group from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, February 28th. They noted that the move was a valuation call. Deutsche Bank downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and set a $58.56 price target on the stock. in a research note on Thursday, February 28th. ValuEngine upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Finally, Zacks Investment Research downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research note on Wednesday, January 23rd. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $59.10.

In other news, Chairman Ralph Izzo sold 52,407 shares of the firm’s stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $54.31, for a total transaction of $2,846,224.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Tamara Louise Linde sold 13,535 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $60.04, for a total transaction of $812,641.40. Following the sale, the executive vice president now directly owns 49,909 shares of the company’s stock, valued at approximately $2,996,536.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 176,755 shares of company stock valued at $10,174,717. Company insiders own 0.51% of the company’s stock.

NYSE PEG traded up $0.16 during trading hours on Friday, reaching $58.87. The company’s stock had a trading volume of 7,421,492 shares, compared to its average volume of 2,608,837. The firm has a market cap of $29.73 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 2.89 and a beta of 0.41. Public Service Enterprise Group Inc. has a 52 week low of $49.02 and a 52 week high of $60.36. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.71 and a quick ratio of 0.53.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Wednesday, February 27th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. Public Service Enterprise Group had a net margin of 14.83% and a return on equity of 11.10%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same quarter last year, the business earned $0.57 EPS. As a group, research analysts anticipate that Public Service Enterprise Group Inc. will post 3.24 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $1.88 annualized dividend and a yield of 3.19%. Public Service Enterprise Group’s payout ratio is 60.26%.

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Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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